Siemens Healthineers Q4 Revenue Rises 7.3% as Adjusted EBIT Falls

Siemens Healthineers AG reported higher fiscal fourth-quarter revenue but lower adjusted operating earnings, and its fiscal 2027 outlook puts adjusted basic EPS below the €2.42 recorded for fiscal 2026.

The figures cover the three months ended Sept. 30, the close of the company’s fiscal fourth quarter. Siemens Healthineers released its results Nov. 5 at 1 a.m. ET (06:00 UTC).

Revenue reached €6.784 billion, compared with €6.322 billion in the prior-year quarter. The reported increase was 7.3%; on a comparable basis, growth was 5.9%. Comparable growth strips out currency and portfolio changes, along with specified IFRS 3 adjustments to contract liabilities.

Growth varied across the company’s segments. Imaging led with 10.0% comparable growth, while Precision Therapy advanced 4.8%. Diagnostics was the only segment to contract, with comparable revenue down 4.2%.

Adjusted EBIT declined 2.0% to €1.077 billion from €1.098 billion. Its margin narrowed to 15.9% from 17.4% a year earlier, a decrease of 1.5 percentage points.

Adjusted basic earnings per share (EPS) rose 1.7% to €0.69 from €0.68. Net income edged up 0.3% to €599 million from €597 million, while free cash flow fell 18.6% to €703 million from €863 million. The results showed increases in revenue, EPS and net income alongside declines in adjusted EBIT and free cash flow.

Siemens Healthineers said revenue growth and positive effects from pension-related items and tariff refunds were outweighed by currency effects, provisions for legal and product-related risks in Imaging, and unusual costs across all segments.

“We closed out the last fiscal year with a strong fourth quarter,” CEO Bernd Montag said.

For fiscal 2027, Siemens Healthineers forecast comparable revenue growth of 4.0% to 5.0% and adjusted basic EPS of €2.20 to €2.40. Even the top of that EPS range is below the €2.42 reported for fiscal 2026: the guidance range runs from €0.22 to €0.02 lower.